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TMI Blog2000 (4) TMI 574X X X X Extracts X X X X X X X X Extracts X X X X ..... [Order per : Smt. Archana Wadhwa, Member (J)]. - The short issue required to be decided in the Revenue's appeal is as to whether the respondents' price lists in Part VII filed with the proper officer are required to be approved by adding notional profit of 20% as has been done by the Assistant Commissioner or the profit margin of 4% has to be added, as claimed by the assessee. Second issue inv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... od they had suffered a loss of 2.98% as per their audited balance sheet and inspite of that they had included a profit margin of 4%, held that adding of 20% profit margin by the Assistant Commissioner was without any basis and was arbitrary. Accordingly, he set aside the same. 2.1 The Revenue in their memo of appeal has urged that the profit margin required to be added in the assessable valu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... yers. The interest element if any, is built into the price of the goods itself. It is more in the nature of a general credit period given to the buyers. The price is the same when payment is made on any day within the general credit period from the date of delivery. 4. Nobody has appeared on behalf of the respondents. Accordingly, we have heard Shri T. Premkumar, ld. SDR for the revenue and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cash price. If the buyers pay the price of the goods immediately on sale of the same, no interest would be involved. No separate policy has been shown by the assessee as to what would be the interest charged by them in case of delayed payments. It is this interest, which is charged by the assessee from its buyers, when the payments are not made in time, which has been held as not includible in th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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